Ruben Gamez of Bidsketch shares extremely valuable guidelines on how to reduce customer churn and improve retention. You can read the full interview here: http://goo.gl/wHIcCK
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10 Guidelines from Ruben of Bidsketch you should not miss to reduce customer churn
1. 10 guidelines to improve your churn rate
from
Ruben Gamez, founder - Bidsketch
brought to you by Stunning
2. Set up dunning/pre-dunning emails to reduce failed payments.
Dunning emails are sent when charges fail, and pre-dunning
emails are sent when customer credit cards are about to
expire.
Decide on the metrics that define customer success for your
product.
Make sure that you track whether customers are using
your product fully. Take proper measures to improve their
engagement.
3. In the early stages of your startup, churn is high as you are
finding product-market fit. However, churn should go down
over time. So, make sure to check on your churn rate
regularly.
Always ask for cancellation feedback. Add a "required
comment box" in your cancellation flow.
Long phone calls with churned customers are super
insightful. You can get insights on their initial expectations,
exactly how the product fell short, what they're using now,
and the tradeoffs at each step of the way.
4. Annual billing helps reduce churn. Encourage your customers
to switch to an annual plan.
Churn happens long before your customers cancel. Make
sure to check usage for each customer and reach out
before they reach the moment of cancellation.
To improve your onboarding experience, reduce friction
and educate new customers via emails and interactive
tours.
5. Sometimes the customer segment that isn't seeing value in your
product is the wrong segment to focus your product on.
Set up dunning emails and rescue your recurring revenue.
See how much recurring revenue Stunning can rescue for you.